The UKIPO have launched a new financial support scheme, IP Advance, which was launched as a pilot on 15 July 2024.
IP Advance is a tiered funding programme designed to provide support to SMEs at the right stage in their innovation journey. It is intended to provide targeted advice and support to help businesses better understand their Intellectual Property (IP) rights, develop an IP strategy, and where appropriate, provide financial support to implement that strategy.
Two levels of support are available:
- IP Audit provides part-funding of £2,250 (including VAT) towards the cost of an IP audit, conducted by a suitably qualified IP professional. The business must contribute £750 (including VAT) towards the overall cost of the audit. The business will receive a bespoke IP Audit report with recommendations, cost projections and a suggested timeline for implementation. As part of IP Audit, the business will also have a follow-up meeting to discuss the report's recommendations with the IP professional.
- IP Access provides a contribution of up to £2,250 (including VAT) for IP professional advice to progress an IP management strategy or implement recommendations from their IP audit. The Business must contribute a minimum of 50% towards the cost of the services carried out by their IP professional under IP Access to qualify for support. This may cover 50% of the service charge for preparing and filing a new UK patent application, trade mark application or design application.
Businesses can apply for one or both levels of funding; receiving IP Audit funding is not a prerequisite to receiving IP Access funding.
For SMEs in Northern Ireland, IP Advance will be delivered exclusively through Invest Northern Ireland, who should be contacted to enquire about this support ( https://www.investni.com/support-for-business/innovation-research-and-development/technical-advice/protect-your-intellectual-property).
SMEs identified as benefitting from specialist support in the management of IP-related matters and engaged in a business support programme with Invest Northern Ireland, are eligible to apply for the scheme. All IP Advance applications are subject to an assessment and funding is not guaranteed.
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